United States

One month ago, Morgan Stanley's chief cross-asset strategist looked at the current state of the market - "the S&P 500, Russell 2000 and NASDAQ have hit all-time highs. Volatility has plunged back down near all-time lows. Credit is tighter and yields have been stable" - and asked "what rattles this market. What breaks the egg?"

His answer was five-fold, including valuations, inflation, geopolitics and China, but the biggest concern was what is coming in just one month on the US legislative docket:

Submitted by Charles and Louis-Vincent Gave of Gavekal Research

Carthago Est Delenda

Authored by Paul Craig Roberts,

The Missouri State Senator who published a Facebook post calling for President Donald Trump’s assassination is refusing to resign despite finding herself in hot water with both the Secret Service and her fellow Democrats, according to the Kansas City Star.

Authored by Mike Krieger via Liberty Blitzkrieg blog,

The firing of Steve Bannon is in my opinion the most significant event to happen during the Trump administration thus far. Moreover, it will have massive reverberations across the U.S. political spectrum for years and years to come. I wasn’t planning on writing today, but this news is so incredibly significant I find myself with little choice.